Insight and Intelligence on the London & International Insurance Markets 19 Feb 2018

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Allianz misses squeeze-out threshold in Euler Hermes tender

  • Bernard Goyder 14 February 2018
  • Allianz has raised its stake in trade credit insurer Euler Hermes to 92.43 percent, below the level required to squeeze out the remaining investors in the Paris-listed company.

    The German carrier pumped EUR1.5bn ($1.85bn) into Euler Hermes stock, acquiring an additional 29.43 percent stake through a just-closed tender as well as share purchases on the market.

    It started the process in November with a 63 percent holding in the French company.

    French law requires a purchaser to hold 95 percent...

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